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NxStage Reports Record Second Quarter 2011 Financial Results and Raises Revenue Guidance for 2011
Date:8/3/2011

million."

NxStage reported a net loss of $5.6 million, or ($0.10) per share, for the second quarter of 2011 compared with a net loss of $8.3 million, or ($0.17) per share, for the second quarter of 2010.

For the second quarter of 2011, the Company reported Adjusted EBITDA, adjusted for stock-based compensation, deferred revenue recognized, manufacturing transition costs and other non-cash expenses of $1.8 million, compared with an Adjusted EBITDA loss of $0.2 million in the second quarter of 2010.  (See the exhibits for a reconciliation of this non-GAAP measure.)

NxStage announced that it recently concluded its renegotiation of its United States home market agreement with one of its largest customers and signed an amendment to that agreement, extending the term to December 31, 2012, and up to one additional year thereafter.  The amended agreement covers the use of NxStage's products for home hemodialysis.

Separately, NxStage announced that pursuant to its agreement with DaVita, for the period ended June 30, 2011, DaVita achieved System One home patient growth targets that entitled it to become vested in warrants to purchase 250,000 shares of NxStage common stock.  

Guidance:

For the third quarter of 2011, the Company is forecasting revenue to be within a range of $53.5 to $54.5 million.  At this revenue level, the Company would expect a net loss in the range of $5.0 to $6.0 million or ($0.09) to ($0.11) per share, and Adjusted EBITDA in the range of $1.0 to $2.0 million for the third quarter of 2011.  

Supported by its strong performance in the first half of 2011, the Company now anticipates revenue for the 2011 fiscal year to be in a range of $210 to $215 million, compared with its prior guidance for revenues to be in a range of $205 to $213 million.  The Company is maintaining its guidance for a net loss in the range of $19 to $23 million or ($0.36) to ($0.43) per share, and
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SOURCE NxStage Medical, Inc.
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Related medicine technology :

1. NxStage® Enters Into New Lease for Corporate Headquarters Within Lawrence, MA
2. NxStage Founder and CEO Jeffrey Burbank Named Ernst & Young Entrepreneur of the Year® 2011 New England Award Winner
3. NxStage Announces Second Quarter 2011 Investor Conference Schedule
4. NxStage® Supports Initiative by Patient Advocacy Groups to Educate Policymakers about the Benefits of Frequent Home Hemodialysis
5. NxStage® Advances Global Growth Strategy with System One™ Regulatory Approval and Distribution Agreement in Australia and New Zealand
6. Chronic Disease Research Group Study Shows Daily Home Hemodialysis Therapy with the NxStage® System One™ is Associated with Lower Risk of Mortality and Higher Survival Estimates Compared to Conventional Thrice-Weekly Dialysis
7. NxStage® Names Michael Miller, Jr. President, International
8. NxStage® to Report First Quarter Fiscal 2011 Financial Results
9. Independent Study Reports 50% Smaller Carbon Footprint With NxStage System One™ vs. Standard In-Center Hemodialysis Machines
10. New NxStage® FREEDOM Data Shows Continued, Marked Benefits for Patients Using the System One™ for Daily Home Hemodialysis Throughout a 12 Month Period
11. In Celebration of the 31st Annual Dialysis Conference, NxStage® Announces Over 5,000 Patients Using the System One™ for Home Hemodialysis
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